ToughBuilt obtains purchase order financing to fuel supply chain initiatives

ToughBuilt Industries announced its strategic alliance with King Trade Capital, securing a line of credit expected to significantly enhance the Company’s procurement, direct import, and order fulfillment capabilities. The Company believes this line of credit will ensure its commitment to existing and new retail partners and strengthen its relationships with key retail partners and factories, translating to enhanced operational efficiency, growth, and improved cost-effectiveness. Michael Panosian, ToughBuilt’s Co-Founder and Chief Executive Officer, remarked, “We believe our arrangement with King Trade Capital will fuel our agility in sourcing and meeting demand for our current and new customers. Our relationship will allow us to fulfill and optimize our direct import orders, as needed.” Panosian continued, “We intend for this alliance to demonstrate the Company’s growing financial maturity as we follow our path to cashflow positivity and continue to press toward greater shareholder value and profitability.”